I started the Living Abundantly newsletter on LinkedIn in 2023 to help entrepreneurs live more abundantly. This year, I plan to narrow the scope to how to spend money well.
I have intentionally spent the last few years learning to live abundantly, and I’m here to share the lessons I’ve learned with you. Part of this journey has included reading dozens of books ranging from Stoicism to the biographies of seminal historical figures.
One person I didn’t anticipate learning from is Richard Nixon, who reflected well on the problem in this way:
“To me, the unhappiest people of the world are those in the watering places. Drinking too much, talking too much, thinking too little. They don’t know life. Because what makes life mean something is purpose. A goal. The battle. The struggle. Even if you don’t win it.”
While on this journey, I was particularly taken by Bill Perkins’s book Die with Zero, which inspired Should You Die with Zero back in May 2023.
I am discovering that many people have struggled to transition from accumulating assets to spending them wisely. As a financial advisor, I have access to some of the wealthiest people in the community. I’d be rich if I had a nickel for every time one of them said something that rhymed with, “I’ve been saving my whole life to be in this position; why is it so hard now to spend money?”
The most frequent philosophical questions I am asked are:
- Should I spend more money or preserve my wealth for future generations?
- What is the appropriate amount to give to my children and grandchildren?
- Outside of my happiness and family, where do I care about making the most impact?
- How do I create a charitable plan aligned with what I care about the most?
- Should I give more money now?
- Does my investment strategy and financial plan need to change based on how I feel after exposure to these ideas?
My objective with writing this year is to address these questions and challenges and ultimately help people find peace of mind and spend, steward, invest, and leverage money well.
So, where does one start if you want to steward money more wisely? That will be the topic of the next newsletter.
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